On Thursday, Apple’s stock price rebounded in local time in the United States. But since its peak in September this year, the stock is down by 9%, reducing Apple’s market value by about $229 billion. It is identical to 94% of the market value of the S&P 500 index component companies.
One of the reasons that Apple’s share price fell recently is that there are reports that the company will cut iPhone production to cope with chip shortages.
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Nancy Tengler, a chief investment officer of Laffer Tengler Investments, a long-term holder of Apple stock said –
“In 2013 when the stock yield rose to more than 3% At that time, we became Apple shareholders, which is much higher than the yield of 10-year bonds. We did this because we like Apple’s business model, and we think the value of its model is undervalued by the market.”
Although Laffertengler Investment Company still maintains its position, it has reduced its risk exposure to about 2% of its total holdings. She said –
“At the current level, if you are not as sensitive to valuation as we are, you may really want to see this as an opportunity to at least establish a position or increase your shareholding. Because the problem comes from the supply chain, not the demand, I think Apple and its executives have a good grasp of this.”
Sanctuary Wealth’s chief investment officer Jeff Kilburg (Jeff Kilburg) believes that the latest weakness brought about by chip shortages will not have much impact on Apple. He said,
“The semiconductor shortage is expected. If we see Apple reduce the delivery of 10 million iPhones, I don’t think we need to be surprised.”
Notably, Apple shares closed at $143.76 per share on Thursday, up 2.02%.
